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Nigeria Recovers $9.1 Billion In Stolen Money And Assets – President Buhari records success in fight against official corruptionclaims suce

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Nigeria recovers $9.1 Billion in stolen public funds and assets

President Muhammadu Buhari urges other countries and the UN to speed up the process of repatriating stolen money held abroad, it’s becoming “tedious” 

buhari4.pngNigerian President Muhammadu Buhari with British Prime Minister David Cameron, during the recently concluded global Anti-Corruption Summit in London:  “It is time for Britain and the United States to look at their own policies and their role as shelters for billions of dollars stolen by corrupt politicians in developing countries.”
Nigeria’s government has recovered $9.1 billion in stolen money and assets, its information and culture minister said on Saturday, as its corruption crackdown continues against the backdrop of the country’s worst economic crisis in years.President Muhammadu Buhari, elected last year largely on his vow to fight corruption, has vowed to recover “mind-boggling” sums of money stolen from the oil sector and said public coffers were “virtually empty” when he took office last May.

In January  this year, the Minister of Information and Culture, Lai Mohammed, gave an insight into yhe magnitude of the issue. Mr Muhammed  said just  ’55 Nigerians [alone] stole over N1.34 trillion [$684 billion] from the country’s treasury from 2006 to 2013,’  lsting the categories:
EX-GOVERNORS 15 146,840,800,000.00
EX-MINISTERS 4 7,050,000,000.00
EX-LEGISLATORS 5 8,350,000,000.00
EX-PUBLIC SERVANTS 7 (Federal) 6,906,600,000.00
EX-PUBLIC SERVANTS 5 (State) 7,275,000,000.00
BANKING INDUSTRY 8 524,560,000,000.00
BUSNESSMEN 11 653,150,000,000.00

GRAND TOTAL 55 N1,354,132,400,000.00 ($683,905,252,525)

Gallery of high profile public officers indicted in the Nigerian ‘public funds’ recovery exercise by the Nigerian Economic and Financial Crimes Commission (EFCC)

Former Energy minister Deizani Allison-Madueke: Allegedly misappropriated $16 billionfrom the country’s oil revenue. Currently ‘self-exiled’ in the UK where she is recieving cancer treatment while being tried on bribery charges by the British government.  recovery in has case in her case is still in trickles of millions.
Former National Security Adviser, Col (retd.) Sambo Dasuki, son of late Sultan of Sokoto indicted for misappropriation of funds meant for procurement of arms and equipment for the Armed Forces, totalling of $2.37bn. Asssets seize.
Former Chief of Air Staff, Air Marshall Ademola Amosu. Indicted in the Dasuki ‘Armsgate’ scandal. Returned $331,000 wife also indicted, cash recovered family assets seized
 Former Chief of Air Staff  Air Marshall Alex Badeh, succeded  Air Marshall Amosu. Accused of awarding phantom contracts to buy helicopters, fighter jets and ammunition, totalling $68m. Cash recovered, including $1m cash from his home, assets seized. Currently on prison remand.

Since then the country has endured an economic crisis caused by the sharp fall in global oil prices, making the need to recoup lost money more acute. Crude sales account for around 70 percent of national income.In a statement, Information Minister Lai Mohammed said cash and assets recovered between May 29 last year, when Buhari took office, and May 25 this year totalled $9.1 billion.The government has said it plans to generate 3.38 trillion naira ($17 billion) this year from non-oil sources to help fund the $30.6 billion budget signed into law by Buhari last month.
It was not immediately clear how much outstanding money in total is still being sought by the government.
“All these are monies recovered from individuals and entities who had either hidden, stolen, diverted or were in possession of monies belonging to the nation,” the minister’s special adviser, Segun Adeyemi, told Reuters.
“These recovered funds include monies withheld by past government officials, monies kept in private accounts, monies diverted to private pockets and monies in possession of government officials not disclosed after leaving government.”

The information minister told Reuters he could not name any individuals from whom money had been recovered for legal reasons.
He said some of the money came after companies that had failed to pay taxes were forced to do so retrospectively.
The ministry also said a total of $321 million was yet to be recovered from Nigerians in Switzerland, the Britain, the United States and the United Arab Emirates or their assets held in those countries.
Last month Buhari urged other countries and the United Nations to speed up the process of repatriating stolen money held abroad, which he said was becoming “tedious.”

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